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News Headlines
Food inflation eases, price pressures remain (Reuters)
India's food inflation eased in end January on moderating prices of fruits and
vegetables. India's food price index rose 13.07 percent and the fuel price index
climbed 11.61 percent in the year to Jan. 29.
DoT to ask TRAI to review proposal on licence cancellation (BL)
In a relief to some of the new mobile operators, the Department of Telecom has
decided to ask the telecom regulator to review its recommendations to cancel
licences for failing to complete the roll out obligations.
2G report blames 2 former DoT secretaries among 20 officials (BL)
The one-man panel appointed by the Communication and IT Ministry to review the
2G allocation processes between 2001 and 2009, has blamed a number of former
officials of the Department of Telecom for taking incorrect decisions.
Cairn opposes change in India royalty payment terms (Reuters)
Cairn India will not accept a change in royalty payment terms of its main producing
asset as that could hurt its value, and in turn jeopardise Vedanta Resources' $10
billion acquisition bid.
Govt to save $2 bn if our point accepted: ONGC (BS)
Denying claims made by Cairn India, ONGC has said the government will save $2
billion if royalty paid on the Rajasthan oilfields is allowed to be cost-recovered.
Banks curb short-term lending to companies (BS)
Banks have started flooring the brakes on short-term corporate loans, as they want
greater clarity on the end-use of such funds. Bankers said they are no longer
sanctioning such loans, especially after the 2G spectrum scam came to light.
RBI revises norms for primary dealer investments (Reuters)
Primary dealers in India can invest in bonds with initial maturities of up to one year
but such investments should not exceed 10 percent of their total holdings in nongovernment securities on an ongoing basis, the Reserve Bank of India said.
Growth in bank bad assets slows in third quarter (BS)
Reflecting an improvement in business environment, the pace of addition of nonperforming assets declined in the December quarter. The gross NPAs of listed banks
rose by Rs 2,405 crore, as against Rs 4,920 crore in the September quarter.
NSE to launch S&P 500, Dow futures in three months (BS)
The National Stock Exchange (NSE) is likely to launch futures contracts on benchmark
US indices in the next three months, according to officials familiar with the matter.
January power output rises 9.3 pct y/y – govt (Reuters)
India's power output rose an annual 9.3 percent in January, faster than the previous
month, on improved operations at coal-based plants.
Deadlock over no-go resolved, says Jaiswal (BS)
Indicating an end to the year-long tussle over the controversial no-go mining issue,
Coal Minister said the problem with the Environment Minister had been resolved.
T3 terminal capitalisation cost drags GMR Infra into loss in Q3 (BL)
A 59 per cent increase in capacity costs, primarily on capitalisation of the T3 terminal
in New Delhi, has resulted in a net loss of Rs 22.30 crore for GMR Infrastructure
during Q3, compared with a profit of Rs 9.2 crore during the same quarter last year.
Govt OKs follow-on share sale by Power Fin Corp (Reuters)
The government on Thursday approved a follow-on share sale by state-run Power
Finance Corp that could be worth $1.3 billion at current market prices.
India approves SAIL ore mines, operational in 3 years (Reuters)
India gave state-run Steel Authority of India Ltd (SAIL) environmental approval for its
its Chiria iron ore mines in Jharkhand on Thursday. SAIL plans to spend 50 billion
rupees ($1.1 billion) in developing the northern Indian mine.
Obama U.S. budget to ignite deficit debate (Reuters)
President Barack Obama's 2012 budget plan will bring a simmering deficit debate to
a head when he sends it to Congress on Monday.
Weber: ECB Will Act If Inflation Expectations Increase (Bloomberg Finance LP)
Bundesbank President Axel Weber said the European Central Bank will raise interest
rates if inflation expectations pick up.
U.S. Wholesale Inventories Rise More Than Forecast (Bloomberg Finance LP)
Inventories at U.S. wholesalers rose by 1 percent in December, more than forecast.
Sales grew 0.4 percent to $371.5 billion, the highest level since August 2008.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Food inflation eases, price pressures remain (Reuters)
India's food inflation eased in end January on moderating prices of fruits and
vegetables. India's food price index rose 13.07 percent and the fuel price index
climbed 11.61 percent in the year to Jan. 29.
DoT to ask TRAI to review proposal on licence cancellation (BL)
In a relief to some of the new mobile operators, the Department of Telecom has
decided to ask the telecom regulator to review its recommendations to cancel
licences for failing to complete the roll out obligations.
2G report blames 2 former DoT secretaries among 20 officials (BL)
The one-man panel appointed by the Communication and IT Ministry to review the
2G allocation processes between 2001 and 2009, has blamed a number of former
officials of the Department of Telecom for taking incorrect decisions.
Cairn opposes change in India royalty payment terms (Reuters)
Cairn India will not accept a change in royalty payment terms of its main producing
asset as that could hurt its value, and in turn jeopardise Vedanta Resources' $10
billion acquisition bid.
Govt to save $2 bn if our point accepted: ONGC (BS)
Denying claims made by Cairn India, ONGC has said the government will save $2
billion if royalty paid on the Rajasthan oilfields is allowed to be cost-recovered.
Banks curb short-term lending to companies (BS)
Banks have started flooring the brakes on short-term corporate loans, as they want
greater clarity on the end-use of such funds. Bankers said they are no longer
sanctioning such loans, especially after the 2G spectrum scam came to light.
RBI revises norms for primary dealer investments (Reuters)
Primary dealers in India can invest in bonds with initial maturities of up to one year
but such investments should not exceed 10 percent of their total holdings in nongovernment securities on an ongoing basis, the Reserve Bank of India said.
Growth in bank bad assets slows in third quarter (BS)
Reflecting an improvement in business environment, the pace of addition of nonperforming assets declined in the December quarter. The gross NPAs of listed banks
rose by Rs 2,405 crore, as against Rs 4,920 crore in the September quarter.
NSE to launch S&P 500, Dow futures in three months (BS)
The National Stock Exchange (NSE) is likely to launch futures contracts on benchmark
US indices in the next three months, according to officials familiar with the matter.
January power output rises 9.3 pct y/y – govt (Reuters)
India's power output rose an annual 9.3 percent in January, faster than the previous
month, on improved operations at coal-based plants.
Deadlock over no-go resolved, says Jaiswal (BS)
Indicating an end to the year-long tussle over the controversial no-go mining issue,
Coal Minister said the problem with the Environment Minister had been resolved.
T3 terminal capitalisation cost drags GMR Infra into loss in Q3 (BL)
A 59 per cent increase in capacity costs, primarily on capitalisation of the T3 terminal
in New Delhi, has resulted in a net loss of Rs 22.30 crore for GMR Infrastructure
during Q3, compared with a profit of Rs 9.2 crore during the same quarter last year.
Govt OKs follow-on share sale by Power Fin Corp (Reuters)
The government on Thursday approved a follow-on share sale by state-run Power
Finance Corp that could be worth $1.3 billion at current market prices.
India approves SAIL ore mines, operational in 3 years (Reuters)
India gave state-run Steel Authority of India Ltd (SAIL) environmental approval for its
its Chiria iron ore mines in Jharkhand on Thursday. SAIL plans to spend 50 billion
rupees ($1.1 billion) in developing the northern Indian mine.
Obama U.S. budget to ignite deficit debate (Reuters)
President Barack Obama's 2012 budget plan will bring a simmering deficit debate to
a head when he sends it to Congress on Monday.
Weber: ECB Will Act If Inflation Expectations Increase (Bloomberg Finance LP)
Bundesbank President Axel Weber said the European Central Bank will raise interest
rates if inflation expectations pick up.
U.S. Wholesale Inventories Rise More Than Forecast (Bloomberg Finance LP)
Inventories at U.S. wholesalers rose by 1 percent in December, more than forecast.
Sales grew 0.4 percent to $371.5 billion, the highest level since August 2008.
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